SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Research the viability of new venture ideas/opportunities 
SAQA US ID UNIT STANDARD TITLE
114596  Research the viability of new venture ideas/opportunities 
ORIGINATOR
SGB Generic Management 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Generic Management 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular-Fundamental  Level 4  NQF Level 04 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is aimed at learners who wish to identify and screen new ideas and/or opportunities with the intention of establishing and/or participating in a new venture.

The qualifying learner is capable of finding information about different industry sectors; explaining the purpose of potential new ventures; identifying characteristics of successful ventures and evaluating new venture opportunities.

The qualifying learner will be able to:
  • Identify and assess own business ideas/opportunities for a new venture.
  • Analyse the viability of a selected idea/opportunity against specific screening variables.
  • Research the potential of a particular idea/opportunity as a new venture.
  • Analyse a range of risks associated with a new venture.
  • Evaluate new venture ideas/opportunities based on research findings. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Learners accessing this qualification will have demonstrated competence in Computer Literacy, Mathematical Literacy and Communications at NQF level 3 or equivalent. 

    UNIT STANDARD RANGE 
  • Risks include demand, competition, capability to produce/service at an economic and marketable price, level of capital require.
  • Failure factors include capital management, credit management, technical ability, market access and size, marketing/selling skills, management capability, business growth, personal life conflict.
  • Evaluation refers to the size and type of market segment, product range, sources of supply, physical facilities, essential services, financial resources, return on investment, staffing needs, technology requirements, legal/regulatory compliance, growth potential. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Identify and assess own business ideas/opportunities for a new venture. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    An own business is discussed in terms of its advantages and disadvantages for the owner, the labour market and the business sector. 

    ASSESSMENT CRITERION 2 
    Sources and methods of access to general and commercial business information are identified for proposed business venture. 

    ASSESSMENT CRITERION 3 
    Reasons for selecting or rejecting a particular new venture idea/opportunity are explained with examples. 

    ASSESSMENT CRITERION 4 
    Essential features of the new venture are identified in terms of market share, sales volume, asset value, and extent of independence from outside control. 

    SPECIFIC OUTCOME 2 
    Analyse the viability of a selected idea/opportunity against specific screening variables. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The aptitude, interests and values of the potential owner are screened for suitability to the new venture. 

    ASSESSMENT CRITERION 2 
    The market conditions are assessed to determine the viability of the new venture. 

    ASSESSMENT CRITERION 3 
    An assessment is made of the competition the new venture is up against. 

    ASSESSMENT CRITERION 4 
    The access to relevant technology and other resources needed for the new venture is analysed to aid a decision on the viability of the new venture. 

    SPECIFIC OUTCOME 3 
    Research the potential of a particular idea/opportunity as a new venture. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A personal profile of an entrepreneur is matched to the type of work, product or service that has potential as a new venture to ensure compatibility. 

    ASSESSMENT CRITERION 2 
    Training needs to ensure success of the new venture are identified for all persons involved in the venture. 

    ASSESSMENT CRITERION 3 
    Market research is conducted including analysis of demand for the product/service and competitor analysis. 

    ASSESSMENT CRITERION 4 
    The most suitable location of the new venture is investigated to aid a decision on the location of the new venture. 

    ASSESSMENT CRITERION 5 
    Constraints on trade and applicable by-laws are investigated to ensure that there are no legal obstacles to the establishment of the new venture. 

    SPECIFIC OUTCOME 4 
    Analyse a range of risks associated with a new venture. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concept of risk management is explained with examples. 

    ASSESSMENT CRITERION 2 
    The potential risks and factors that may threaten the new venture are identified and analysed with a view to eliminating and/or minimising them. 

    ASSESSMENT CRITERION 3 
    The risks associated with being an employer are explained. 

    ASSESSMENT CRITERION 4 
    The possible measures to reduce risk are explained with examples from a real or simulated new venture. 

    ASSESSMENT CRITERION 5 
    The insurance and security needs associated to risks in the new venture are investigated. 

    SPECIFIC OUTCOME 5 
    Evaluate new venture ideas/opportunities based on research findings. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Criteria are established for evaluating the success of a new venture. 

    ASSESSMENT CRITERION 2 
    A preliminary evaluation of the proposed new venture is produced in the form of a written report, using the identified criteria. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • This Unit Standard will be assessed by an assessor and moderated by a moderator, registered with the relevant accredited ETQA responsible for the quality assurance of this Unit Standard.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the appropriate quality assuring ETQA, or Learning Programme approval with an ETQA that has a Memorandum of Understanding with the quality assuring ETQA.
  • Verification (external moderation) of assessment and moderation by the provider, will be conducted by the relevant quality assuring ETQA according to the moderation guidelines in the relevant Qualification and the agreed ETQA policy and procedures.
  • An individual wishing to be assessed through RPL against this Unit Standard, may apply to an assessment agency or provider institution accredited by the relevant quality assuring ETQA, or by an ETQA that has a formal agreement/accreditation with the relevant quality assuring ETQA. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Methods and techniques for assessing and analysing information associated with new venture opportunities.
  • How to evaluate new venture opportunities.
  • The types of new ventures and opportunities.
  • The Labour Market study
  • Researching the industry and the broad market
  • Consumer, competitors and supplier research
  • Interpreting research findings
  • Identifying your target market
  • Estimating the size of the market
  • Conducting own research
  • Risk management, insurance and security 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems and make decisions which arise during the process of assessing, analysing and evaluating new venture opportunities. 

    UNIT STANDARD CCFO ORGANISING 
    Organise oneself and one's activities by using structured methods in investigating and assessing new venture opportunities. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information which will assist in the investigation and assessment of new venture opportunities. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems by explaining the potential impact of proposed new venture decisions. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Develop entrepreneurial opportunities. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  66249   Further Education and Training Certificate: New Venture Creation  Level 4  NQF Level 04  Reregistered  2023-06-30  SERVICES 
    Core  23953   Further Education and Training Certificate: New Venture Creation (SMME)  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered" 
    2009-05-13  Was SERVICES until Last Date for Achievement 
    Core  20884   National Certificate: New Venture Creation (SMME)  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2005-04-10   
    Elective  58143   National Certificate: Music Industry Practice  Level 3  NQF Level 03  Reregistered  2023-06-30  CATHSSETA 
    Elective  65051   Further Education and Training Certificate: Arts and Culture Development Support  Level 4  NQF Level 04  Reregistered  2023-06-30  CATHSSETA 
    Elective  79626   Further Education and Training Certificate: Commercial Property and Facilities Management  Level 4  NQF Level 04  Reregistered  2023-06-30  SERVICES 
    Elective  58761   Further Education and Training Certificate: Early Childhood Development  Level 4  NQF Level 04  Reregistered  2023-06-30  ETDP SETA 
    Elective  65029   Further Education and Training Certificate: Music  Level 4  NQF Level 04  Reregistered  2023-06-30  CATHSSETA 
    Elective  59097   Further Education and Training Certificate: Real Estate  Level 4  NQF Level 04  Reregistered  2023-06-30  SERVICES 
    Elective  58394   National Certificate: Film and Television Production  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  MICTS 
    Elective  49087   National Diploma: Orientation and Mobility Practice for Blind and Partially Sighted Persons  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered" 
    2009-07-29  Was ETDP SETA until Last Date for Achievement 
    Elective  73129   National Diploma: Public Relations Practice  Level 5  NQF Level 05  Reregistered  2023-06-30  SERVICES 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. 3 At Work Recruitment Agency 
    2. Accreditation & Training Services 
    3. Adelaine Training Solutions Pty Ltd 
    4. ADOM TECHNOLOGIES PTY LTD 
    5. ADVS Security and Cleaning 
    6. AMG Training and Hygiene Consultants 
    7. Amogelang Marketing and Training 
    8. Aubrey Nyiko Business Enterprise cc 
    9. Avax Training & Development 
    10. Big Fish School of Digital Filmmaking (Pty) Ltd 
    11. Boikgantsho Consulting & Events cc 
    12. Boitjhorisong Resource Centre 
    13. Bojelong Consultancy (Pty) Ltd 
    14. BOLAND COLLEGE 
    15. Brain Boosters Business Education (PTY) LTD 
    16. Brainwave Projects 1997 CC 
    17. Browers Entertainment 
    18. Candy Nxusani Trading 
    19. Carol Creche 
    20. Cedars Academy for Technical 
    21. Centre for Creative Education/Iziko Labantu be Afrika 
    22. Changing Lives Community Development Training 
    23. College of Cape Town - Athlone Campus 
    24. Compass Academy of Learning 
    25. Custoda Trust 
    26. D M Management and Consulting 
    27. DEVELO CC 
    28. Dintshang Trading 
    29. Directflo 
    30. Early Inspiration 
    31. Early Learning Resource Unit (ELRU) 
    32. EASTCAPE MIDLANDS COLLEGE BUSINESS UNIT (Uitenhage) (WA) 
    33. EBENEZER TRAINING HOUSE FOR EARLY LEARNING 
    34. Edu Experts SA 
    35. EDU-Bless College 
    36. Edu-Build Institute 
    37. Edu-Prof Training Centre 
    38. EDUTAK PRE-SCHOOL TRAINING AND DEVELOPMENT 
    39. Elective Training Institute Enterprise CC 
    40. Elgin Community College 
    41. Elim Training and Project Management (Pty) Ltd 
    42. Enjo Consultants 
    43. Environment and Language Education Trust 
    44. Esigangeni General Trading 
    45. Eskilz College (Pty) Ltd 
    46. FALSE BAY TECHNICAL VOCATIONAL EDUCATION & TRAINING COLLEGE 
    47. FILM Mentorship & Training 
    48. Footprint Media academy Pty ltd 
    49. FURNITURE WORLD TRAINING CENTRE 
    50. Future Performance Training and Development 
    51. Future-Teacher (Pty) Ltd 
    52. Gauteng Baobab Early Learning Training Programme 
    53. Giver of Givers Foundation Organisation 
    54. Golang Kulani ELC 
    55. Goldfields TVET College 
    56. Grassroots Adult Education and Training Trust 
    57. GWALA TRAINING SERVICES 
    58. HEIRS TRAINING AND DEVELOPMENT PTY LTD 
    59. HOPE ACADEMIC AND SKILL CENTRE 
    60. HUGENOTE COLLEGE 
    61. ICM t/a Institute for Career Management 
    62. Igugu Training and Investments 
    63. Ikusasa Lothisha t/a ECD Training Provider 
    64. Imvana Training College 
    65. Inqaba Yokulinda Youth Organisation 
    66. Institute of Professional Studies and Services 
    67. Isamon Vocational College of Excellence Pty Ltd 
    68. Isibani Skills Academy 
    69. Isibani Soluntu Development Trust 
    70. Itireleng Bokamoso Trading Development Services and Associates 
    71. Jabulani Training & Development 
    72. Jasintha Pty Ltd 
    73. Josmap Training Institute 
    74. Katehong Early Learning Resourse Unit (KELRU ) 
    75. Kay-Madume Business Enterprise 
    76. Keletsong Community Training & Resource Centre 
    77. Kgang-Kgolo Consulting 
    78. KHANIMAMBA TRAINING AND RESOURCE CENTRE 
    79. Khululeka Community Education Centre 
    80. Kids Academy 
    81. Kitso Bokamoso Training Solution 
    82. KITSO TRAINING AND DEVELOPMENT 
    83. Klein Karoo Resource Centre 
    84. KWAZULU NATAL EXPERIMENTAL COLLEGE 
    85. Legacy Leap Skills Developmemt Institute (Pty) Ltd 
    86. Leratham Supply Distribution and Enterprise 
    87. Leronsa Trading Enterprise 
    88. LESEDI EDUCARE ASSOCIATION 
    89. Leseding Computer Systems (Pty) Ltd 
    90. Lesias Educational Services 
    91. Li Lichule Trading cc 
    92. Little Elephant Training Centre For Early Educationt/a LETCEE 
    93. LITTLE LEADERS GROUP (PTY) LTD 
    94. Loago Business Consulting 
    95. Lynne Hobbs cc 
    96. Majahd Educational Services Multi-Purpose Primary Co-operative Limited 
    97. MASIKHULE EARLY CHILDHOOD DEVELOPMENT CENTRE 
    98. Mass Computer Training and Printers 
    99. MATHS CENTRE INCORPORATING SCIENCES 
    100. MATSP Training 
    101. MENTORNET (PTY) LTD 
    102. Mnambithi FET College - Central Office 
    103. Mochochonono Training Solutions cc 
    104. Motheo Training Institute Trust 
    105. MTL Training and Projects 
    106. Nasinasi Trading and Projects 
    107. NATAL EARLY LEARNING RESOURCE UNIT TRUST 
    108. NBNET CONSULTANCY PROJECTS PTY LTD 
    109. Ndimeni Construction and Maintenance cc 
    110. Ndoma Mathodi Trading Enterprise 
    111. Netgrow Training Solutions 
    112. Networx for Career Development 
    113. New Beginnings Training and Development Organisation 
    114. Next Step Academy (Pty) Ltd 
    115. Nkqubela Community Developers 
    116. Noni Community Development 
    117. Northern Cape Rural TVET College 
    118. Northern Cape Urban College: Kimberley Campus 
    119. Northlink College 
    120. Northshore Trading 19CC t/a Makakhaunye Training and Development Agency 
    121. NTATAISE TRUST 
    122. Ntevho-Ketso Training and Recruitement Consultancy cc 
    123. Ntsangalala Business Enterprise 
    124. Nyelati Trading Enterprise 
    125. Omphile Botshelo Trading 
    126. Orbit FET College - Central Office 
    127. Peddie Development Centre 
    128. People Upliftments t/a POPUP Upliftment 
    129. Petra institute of Development (PTY) Ltd 
    130. PHAKAMANI AGENCY CC 
    131. PMA Holding (Pty) Ltd 
    132. PND Academy of Learning cc 
    133. Pro-Ed Training 
    134. PROFESSIONAL CHILD CARE COLLEGE PTY LTD 
    135. Professional Development and Training Institute (Pty) Ltd 
    136. Rampadise Education Training & Development Centre 
    137. Read Educational Trust 
    138. Realeboga Development Services 
    139. Realeboga-Bakubung Training and Development Agency 
    140. Regen Institute of Leadership and Management Education 
    141. REGIONAL EDUCARE COUNCIL 
    142. Retshetse Training Project 
    143. Rhodes University 
    144. Right 4 u College 
    145. Safe and Sound Learning Association 
    146. SANTS College 
    147. SBONGUKHANYO PTY LTD 
    148. Semase Institute Community Training and Development (Pty) Ltd 
    149. Sino General Trading (Pty) Ltd 
    150. Siragelaphambili Abet Skills Development 
    151. Sisazi Consulting 
    152. SITHUTHUKILE TRUST 
    153. Sivile Housing Association RSA 
    154. Siyahluma Education Institute 
    155. SIYATHELA EARLY LEARNING ASSOCIATION 
    156. South African Congress For Early Childhood Development 
    157. South African Film Institute 
    158. South African Guide-Dogs Association for the Blind 
    159. South Cape Public FET College - George Campus 
    160. Southern African Youth Movement 
    161. Spotru Training Centre 
    162. SPS Consulting (Pty) Ltd 
    163. SSD Consultants 
    164. Sustainability Institute Trust 
    165. T Mabuya & Associates (Pty) Ltd 
    166. Takatso Educare Training and Development Services 
    167. Teachers Learning Centre (Pty) Ltd 
    168. Tekollo Trading (Pty) Ltd 
    169. Tembe Service Providers 
    170. Tendazwau Trading 8 (PTY) LTD 
    171. Thabelanang t/a Thabelanang Trading Enterprise 
    172. The Iscariota Group (Pty) Ltd 
    173. THE MATTHEW GONIWE SCHOOL OF LEADERSHIP AND GOVERNANCE 
    174. The Port Elizabeth Early Learning Centre 
    175. Thembekile training consulting 
    176. THUKAKGALADI INTEGRATED DEVELOPMENT PROJECT 
    177. THUSANANG TRUST 
    178. THUSEGA FINANCIAL AND BUSINESS CONSULTING PTY LTD 
    179. Thuto Ya Setshaba Training Services (Pty) Ltd 
    180. Thuto-Botshabelo Training and Projects (Pty) Ltd 
    181. Tiakeni Training Centre 
    182. Training and Resources in Early Education (TREE) 
    183. TRAINING AT WORK PTY LTD 
    184. TRAINING FORCE 
    185. TSHEPANG EDUCARE TRUST 
    186. Tsoelopele Leadership Consulting (Pty) Ltd 
    187. Ubuntu Care and Development 
    188. UKWAKHILE TRAINING 
    189. Ulwazi Training & Development 
    190. UNIVERSAL COLLEGE OUTCOMES SA 
    191. Vala Nge Bhetshu Human Capital Development (Pty) Ltd 
    192. VEB CELE & Associates (Pty) Ltd 
    193. Vukuthu Training Development 
    194. Vuselela TVET College 
    195. Waterberg TVET College 
    196. Winston Academy 
    197. World Wide Education Providers(Pty)Ltd 
    198. Woz'obona Early Childhood Community Service Group 
    199. Yellow Media Learning Institute (Pty) Ltd 
    200. Zuiks Investments 
    201. Zuzulwazi Development 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.